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Kazakhstan among countries with 'zero' hazard of economic crisis

12.09.2018, 20:46 3583
Nomura investment bank has created the index that prevents a currency crisis on emerging markets. The five countries have already faced a crisis within the year, RBC reports.

The analysts of Japan's Nomura have created the index of 'early notification' on currency crisis that was called Damocles (a reference to the ancient Greek myth about the Damocles sword). The index that ranges 30 developing markets on their closeness to currency hazards, as well as will be updated on a quarterly basis, following Nomura's review of September 10.

As of the beginning of the 3rd quarter (July 2018), following the Nomura index, the following seven emerging markets are subject to big hazards: Sri Lanka can face crisis at any time, Argentina and Turkey have already faced it, as well as crisis, can occur in the South African Republic, Pakistan, Egypt and Ukraine in the near 12 months. Nomura economists say that Argentina, Sri Lanka, and Ukraine have already addressed for help from the International Monetary Fund or take part in the Fund's Financial Programme.

The index also enables to define the group of countries with the lowest risks of a currency crisis: Brazil, Bulgaria, Indonesia, Kazakhstan, Peru, Thailand, and Russia have 'zero' hazards.

Source: BNews.kz

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